Insight from a forgetful Brother
by Midnight Freemason Guest Contributor
Bro. Ryan Carl Mercer 32°
So
let's face it, some of us forget to set our dues aside every year and when we
get that letter from the secretary we go something along the lines of "Is
it that time already?" or "I wonder how long I can ignore this before
the secretary catches on...", well okay maybe the latter is just me, ha!
Sometimes coming up with those funds at the end of the year can be a bit
challenging, I mean it's the holidays and you've to worry about such things as
travel, gifts for umpteen people and in parts of the northern hemisphere
increased heating costs due to it being winter.
Brothers,
I have great news for you though, you don't have to find yourself scrambling to
find your dues at the end of the year nor do you have to make it a conscious
effort to set the money aside throughout the year. You see, I'm going to let
you in on a little trick I've successfully applied elsewhere in my life and
this year have begun applying to my various dues. I've used this trick to allow
me to upgrade to the latest iPhone each time a new number comes out, to cover
my out-of-pocket for medical and vision expenses and as a bachelor even to fund
my rather unsuccessful attempts at first dates. What is this secret you ask...
Automatic
savings. Yup, that's right, automatic savings. Such an idea has long existed in
the form of a "Christmas club" but I notice a lot of people don't
apply it to other areas of their life. Living in the 21st century we have the
wonder that is online banking (and even online banks). I've long had an account
with ING, now Capital One 360, and with the click of a mouse I can create a new
savings account which I can fund via my checking account with that institution.
Presently I have several accounts for various estimated taxes, a personal
savings, my gadget fund and my out-of-pocket medical fund. After firing off my
dues check in late December it hit me "Why don't you have an account just
for dues?!".
 |
| Just imagine one of these with "Dues" on it. |
You
see, the beauty of it is I can have a set amount come out of my checking
account on a set day, weekly, bi-weekly etc. The easiest way to apply this to
your dues is to make a new account with your bank of choice and name it dues,
now take your current annual dues from your Blue Lodge and any other bodies you
belong and then decide how often you want to automatically fund the account.
For me, I find it best to have the money come out weekly and I put a bit extra
in each week as I found that 10$ coming out weekly is not missed one bit. At
the end of the year when I pay dues for the next any money that is left over I
can use to purchase any commemorative rounds, donate to the local Masonic home,
or spend on subscriptions for worthwhile Masonic publications for the next
year. Doing something like this will not only make it easier for you to pay
your dues with little worry, but make your secretary's life that much easier
when he receives your dues in a timely fashion.
Another
benefit about doing this is you have the ability to shop around for a 'high'
yield savings account, start by looking at 'online' banks such as Ally Bank,
Capital One 360, Synchrony Bank and FNBO Direct. Personally I use Capital One
360 and Emigrant Direct despite the fact they do not have the highest rates,
but they've treated me well for more than a decade and I've never had a single
problem but your mileage may vary. In closing I'd like to add that you can
apply this to any area of your budget you might find that you have trouble
saving for, setting up these extra savings accounts for most 'online' banks is
often free and painless and by putting these small tasks on autopilot you
lighten your load a bit and can focus more on the things that truly matter in
life.
~RCMBro. Ryan Carl Mercer 32° knew he'd be a Freemason just 12 days before his 13th birthday after seeing men that had never met his father show up for his father's Masonic funeral. The caring and love those Brothers showed lit a fire that would drive him to ultimately be raised a Master Mason seven years later in the fall of 2005 at Speedway Masonic Lodge No. 729, a lodge where his father spent his youth in DeMolay. In January 2015 he joined the Scottish Rite Valley of Indianapolis in search of yet more light and is also proudly a member of the Masonic Society. His non-Masonic musings can be found at http://www.RyanMercer.com